Why Bitcoin "paper wallets" are an outdated, insecure practice. Recommendations for what to do instead, including the use of seed phrases and hardware wallets.
Hi April, you cannot recover those coins unless you have the seed phrase or private key for that address. So if it was your own non-custodial wallet (ie not an exchange), maybe. If the address belongs to someone else then there is no way to get that money back (unless the owner of that address returns it). Bitcoin transactions are irreversible.
@@mariahaitne8506 unfortunately there may not even be another "owner" of that address who could figure out that they errantly recived BTC so that they could try to return it... If you made a mistake entering an address (ie changed a number or letter), the public key address that you created may not even be known to any currently used wallet in the network. Seed phrases lead to private keys which generate the public key (address you send to).... You cannot work backwards with this math (that is why this all works).
Good point Ed - although it wouldn't be due to a typo due to "checksums" in the address. Every address (public key hash) contains a few bytes of checksum that are a hash of the rest of the address - so if there is a mistype the address will be considered invalid.
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Good info Josh. Thank you!
Great rundown, thorough and accurate 👌
Thank you! Appreciate that.
Finally found a good use case for BTC eh ;P Lol.
Thank you!
Good day Sir, I want to ask, if a person accidentally transfer the crypto bitcoin into a different address, could the lost bitcoin be recover?
Hi April, you cannot recover those coins unless you have the seed phrase or private key for that address. So if it was your own non-custodial wallet (ie not an exchange), maybe. If the address belongs to someone else then there is no way to get that money back (unless the owner of that address returns it). Bitcoin transactions are irreversible.
@@chaintuts thank you Sir, that's what other people told me also 😔
@@mariahaitne8506 unfortunately there may not even be another "owner" of that address who could figure out that they errantly recived BTC so that they could try to return it... If you made a mistake entering an address (ie changed a number or letter), the public key address that you created may not even be known to any currently used wallet in the network. Seed phrases lead to private keys which generate the public key (address you send to).... You cannot work backwards with this math (that is why this all works).
Good point Ed - although it wouldn't be due to a typo due to "checksums" in the address. Every address (public key hash) contains a few bytes of checksum that are a hash of the rest of the address - so if there is a mistype the address will be considered invalid.
@@chaintuts thanks for inproving my education :-) so you would have to make multiple "just the right" mistakes then